8.02.12
Top Day Market News
The hits just keep coming. ECB leaves rates unchanged. This was the consensus. Follow up news conference at 8:30 am and we see short covering running up to this event risk. Traders will be looking for some sort of aggressive, coordinated , detailed action to come out of this meeting to address the sovereign debt problem and give some reality to Mario Draghi’s statement that “we will do whatever it takes” to defend the EC. (Hard to imagine Bernanke ever using the words towards the dollar. Sounds too desperate.)
Of course yesterday the Fed left rates unchanged at 0.25% with no mention of quantitative easing. It seems that gold and silver got the message earlier than most (that there would be no new injection of free money into the system) and declined well ahead of the rate decision. Equities came off uniformly and fell into the close aided and abetted by a technological snafu at the NYSE. It’s not all that reassuring that August is one of the worst performing months for stocks.
|
Week of July 30 - August 03 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 31 |
08:30 |
Jun |
|
0.9% |
0.4% |
0.2% |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 31 |
08:30 |
Jun |
|
0.1% |
0.1% |
0.0% |
|
|
|
Jul 31 |
08:30 |
Jun |
|
0.1% |
0.1% |
0.1% |
|
|
|
Jul 31 |
08:30 |
Q2 |
|
0.5% |
0.5% |
0.4% |
|
|
|
Jul 31 |
09:00 |
Case-Shiller 20-city Index |
May |
|
-1.8% |
-1.8% |
-1.9% |
|
|
Jul 31 |
09:45 |
Jul |
|
51.0 |
52.5 |
52.9 |
|
|
|
Jul 31 |
10:00 |
Jul |
|
61.0 |
61.0 |
62.0 |
|
|
|
Aug 01 |
07:00 |
MBA Mortgage Index |
07/28 |
|
NA |
NA |
0.9% |
|
|
Aug 01 |
08:15 |
ADP Employment Change |
Jul |
|
125K |
125K |
179K |
|
|
Aug 01 |
10:00 |
|
Jul |
|
49.0 |
49.9 |
49.7 |
|
|
Aug 01 |
10:00 |
Jun |
|
0.7% |
0.5% |
0.9% |
|
|
|
Aug 01 |
10:30 |
Crude Inventories |
07/28 |
|
NA |
NA |
2.717M |
|
|
Aug 01 |
14:00 |
|
Jul |
|
NA |
NA |
4.9M |
|
|
Aug 01 |
14:00 |
|
Jul |
|
NA |
NA |
6.1M |
|
|
Aug 01 |
14:15 |
FOMC Rate Decision |
Jul |
|
0.25% |
0.25% |
0.25% |
|
|
Aug 02 |
07:30 |
Challenger Job Cuts |
Jul |
|
NA |
NA |
-9.5% |
|
|
Aug 02 |
08:30 |
|
07/28 |
|
385K |
365K |
353K |
|
|
Aug 02 |
08:30 |
|
07/21 |
|
3300K |
3298K |
3287K |
|
|
Aug 02 |
10:00 |
|
Jun |
|
1.0% |
0.6% |
0.7% |
|
|
Aug 03 |
08:30 |
|
Jul |
|
85K |
100K |
80K |
|
|
Aug 03 |
08:30 |
July |
|
100K |
105K |
84K |
|
|
|
Aug 03 |
08:30 |
|
Jul |
|
8.2% |
8.2% |
8.2% |
|
|
Aug 03 |
08:30 |
|
Jul |
|
0.1% |
0.2% |
0.3% |
|
|
Aug 03 |
08:30 |
|
Jul |
|
34.5 |
34.5 |
34.5 |
|
|
Aug 03 |
10:00 |
|
Jul |
|
52.0 |
52.2 |
52.1 |
|
MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend
U is Up
D is Down
PRD is Potential Reversal Day S2 is Weekly strong support S1 is Weekly good support
DS is Daily Support
DR is Daily Resistance
R1 is Weekly Good Resistance and is calculated once a week on
Sunday night
R2 is Weekly Strong Resistance and is calculated once a week on
Sunday night
Levels are for the most active futures contract
Daily Support and Resistance
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Sept ES |
U |
1299.25 |
1341 |
1361.75 |
1383.50 |
1404.5 0 |
1426.50 |
|
Sept Nasdaq |
PRD (D) |
2472.50 |
2557.25 |
2618.50 |
2649.00 |
2686.5 0 |
2730.50 |
|
Sept Yen |
U |
126.30 |
126.50 |
127.82 |
128.44 |
128.17 |
129.04 |
|
Sept EC |
U |
119.09 |
121.13 |
122.66 |
123.84 |
124.59 |
126.01 |
|
Sept 10 Year |
PRD (U) |
132.26 |
133.15 |
134.13 |
135.03 |
135.04 |
136.04 |
|
Sept 30 Year |
D |
146.25 |
148.13 |
15.016 |
15.205 |
12.16 |
154.31 |
|
Nov Soybeans |
U |
14.54 |
15.28 |
16.26 |
16.78 |
16.83 |
17.65 |
|
Sept Corn |
U |
7.48 |
7.73 |
7.994 |
8.32 |
8.23 |
8.48 |
|
DEC Gold |
PRD (D) |
1542.6 |
1584.9 |
1603.00 |
1626.00 |
1651.4 |
1675.6 |
|
Sept Silver |
U |
26.10 |
26.90 |
27.56 |
28.21 |
28.17 |
28.65 |
|
Sept Copper |
PRD(D) |
329 |
336 |
338 |
344 |
347 |
351 |
|
Sept Crude |
PRD(D) |
84.78 |
87.52 |
85.56 |
89.80 |
92.32 |
94.38 |
|
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